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Meaning of Input and Output Tax
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Input Tax |
Output Tax |
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It is tax paid on purchases |
It is tax charged on sales |
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Input tax is available only on purchase from registered dealers |
Output tax is available on all sales Whether to registered dealers or Unregistered dealer |
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Input of local purchases only available (no input of CST) |
Output tax can be on local sale (called output vat) or on central sales (called output cst or cst payable) |
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